Currency Trading News
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Japan’s exports rose more than forecast in May as a weaker yen boosted the value of overseas sales, underscoring the profit boon for manufacturers from Prime Minister Shinzo Abe’s reflation campaign.
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The Canadian dollar declined for a third day versus its U.S. peer amid speculation the Federal Reserve may indicate when it will begin slowing monetary stimulus in the U.S., the nation’s largest trading partner.
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Global regulators may start overseeing currency rates in a widening response to benchmark- rate setting scandals that began with revelations on the manipulation of Libor, two people familiar with the matter said.
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Brazil’s real posted the biggest decline in emerging markets after the government’s interventions this week failed to staunch capital outflows triggered by faltering economic growth and a jump in U.S. bond yields.
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Britain should investigate the manipulation of currency rates, European Union officials said after Bloomberg News revealed that traders have been rigging foreign-exchange benchmarks for more than a decade.
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Foreign investors are dumping Brazilian real-denominated bonds sold overseas after the currency posted the second-biggest plunge in emerging markets.
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Japanese hedge funds investing in smaller companies are outperforming as trading in small-cap stocks more than doubled this year amid Prime Minister Shinzo Abe’s efforts to revive the world’s third-largest economy.
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ICAP Plc, the world’s largest broker of transactions between banks, said Treasury-trading volume rose 58 percent in May to the most in almost six years amid bets the Federal Reserve will begin tapering its bond-purchase program.
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Canada’s dollar declined versus its U.S. peer as the nation’s merchandise trade deficit widened in April, boosting speculation economic growth will lag behind that in its largest trading partner.
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Brazil’s real fell to a four-year low, spurring the central bank to intervene in the currency market for the first time since March to stem the selloff.
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